ExxonMobil says no plans to exit Qatar Ras Laffan petrochemical JV

Chemical News: ExxonMobil says no plans to exit Qatar Ras Laffan petrochemical JV

https://www.chemnet.com Aug 12,2010
ExxonMobil has denied media reports that said the major was exiting its joint venture petrochemical project with Qatar Petroleum at Ras Laffan in Qatar.

"We signed a heads of agreement with Qatar Petroleum in January 2010 to progress the joint development of a world-scale petrochemical complex, and we
continue to work with Qatar Petroleum on the project," Jeffery Neu, ExxonMobil's US-based spokesman, said in an email response to Platts on
Wednesday.

Neu added that both companies would release information regarding the proposed project when it is available and at the appropriate time.

Both companies inked an agreement on January 6 to build a petrochemical complex at Ras Laffan by the fourth quarter of 2015. The proposed complex would house the world's largest steam cracker of 1.6 million mt/year in
capacity, two 650,000 mt/year gas phase polyethylene plants and a 700,000 mt/year ethylene glycol plant.

The project will employ ExxonMobil's proprietary steam cracking furnace, polyethylene process and specialty polyethylene product technologies and use feedstock from gas development projects in Qatar's North Field.

Under the agreement, Qatar Petroleum will hold a 51% stake in the joint venture while ExxonMobil Chemical will take a 49% stake.

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